Green Car Congress  
Go to GCC Discussions forum About GCC Contact  RSS Subscribe Twitter headlines

« Converting Hybrids to Plug-Ins | Main | GM/Hydrogenics H2 Forklift »

Print this post

US Oil Demand Grows at Strongest Rate in 5 Years in 2004

26 January 2005

Apiprices

Despite high and volatile prices, U.S. petroleum demand in 2004 grew at its strongest rate in five years, reported the American Petroleum Institute in its 2004 year-end Monthly Statistical Report. The surge in demand resulted partly as a result of strong demand for highway diesel.

Demand for on-highway diesel fuel gave it the single largest percentage gain among the major market segments for petroleum products.  Moreover, with increases in deliveries across all major products, total petroleum deliveries (a key measure of demand) rose 2.3% in 2004, their largest annual increase since 1999.

Other highlights of the report:

  • Low-sulfur diesel fuel deliveries jumped nearly 7%, driven by strong economic growth in the industrial sector that propelled increased demand for highway transportation.

  • U.S. refinery activity set numerous records in 2004.  Gasoline and distillate fuel oil each reached new production highs, and the average refinery utilization rate edged upwards to the highest annual rate in six years at 92.8% of capacity, according to the API.  Gasoline production of 8.68 million barrels per day was 2.1% higher than in 2003, and distillate output exceeded the previous year’s by nearly 3% at 3.82 million barrels per day.

  • The long-term growth in U.S. petroleum imports continued in 2004. The year’s crude oil imports rose 4.0% to exceed 10 million barrels per day for the first time. Refined product imports grew nearly 10% to 2.86 million barrels per day, their highest level in more than 30 years.  Together, imports of crude and products rose about 5% to 12.9 million barrels per day.

  • Domestic crude production continued to decline in 2004, falling 3.8% for the year to 5.47 million barrels per day.  Lower 48 output dropped 3.4% to 4.55 million barrels per day, its largest decline since 1999, API reported.  The aftereffects of Hurricane Ivan on offshore facilities represented as much as two-thirds of that decline.  Alaskan production experienced its largest drop since 2000, declining 5.5 percent.

This is not the right direction in which to be moving.

January 26, 2005 in Oil | Permalink | Comments (4) | TrackBack (0)

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c4fbe53ef00d834717ce569e2

Listed below are links to weblogs that reference US Oil Demand Grows at Strongest Rate in 5 Years in 2004:

Comments

I want to do business with your great company but dont know where to start, VIEWING THE WEB SITE OF YOUR COMPANY,i will like to make a proposal to your company for sales of product or exchange of commodity.BLCO,LPFO.
PLEASE CONTACT ME.

I would like to do business with your company.I currently have lpfo for sale.You seem to be very experienced in the Industry going by your very detailed website.Please contact me.We can do alot together.

Kindly give offer for 50000mt of Lpfo oil
export /CIF lagos

Dear Sir,

We can sorry the following products: Copper cathode, Rebco, BLCO and LPFO. Contact us if you are interested.

Best regards

Christopher Emeka Ejike
CEO,
Calvary Trading Company
No 2 Abosede Fasanya Street, Off Mobolaji Street,
Avis Bus Stop Aguda Ogba, Ikeja,
Lagos State, Nigeria
Mobile: 234 8030719380
calvarytradingcompany@gmail.com
ejichris@yahoo.com

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Green Car Congress © 2014 BioAge Group, LLC. All Rights Reserved. | Home | BioAge Group